Brown Miller Wealth Management LLC Purchases New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Brown Miller Wealth Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,890 shares of the company’s stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Tallon Kerry Patrick bought a new position in Palantir Technologies during the fourth quarter worth about $289,000. Union Bancaire Privee UBP SA bought a new position in Palantir Technologies during the fourth quarter worth about $15,177,000. Revolve Wealth Partners LLC bought a new position in Palantir Technologies during the fourth quarter worth about $450,000. Allspring Global Investments Holdings LLC boosted its position in Palantir Technologies by 46.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,499 shares of the company’s stock worth $13,421,000 after purchasing an additional 56,299 shares during the period. Finally, Roxbury Financial LLC bought a new position in Palantir Technologies during the fourth quarter worth about $27,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $141.41 on Tuesday. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $144.86. The firm’s 50 day simple moving average is $116.76 and its two-hundred day simple moving average is $95.53. The stock has a market capitalization of $333.72 billion, a P/E ratio of 744.30, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same period last year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 over the last ninety days. Insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLTR. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Mizuho increased their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a report on Wednesday, June 11th. Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target on the stock. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.30.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.